This really is clever, Michael. Every line has clearly been thought carefully about, including that 'sneaky fourth line', the title.
The personification of the flag and how you have it dancing rather than merely flapping or some such boring word is marvellous. And the idea that it is the flag with its proud colour(s) that can actually help save life is a joy. The red in it actually meaning 'life', of course. Is it just me, or is that piece of cloth beginning to flutter on a mere breeze now rather than needing a storm to raise its colours?
By the way, 'it's' there is possessive so it doesn't need the apostrophe. That's the one word we don't use it with because that makes it a contraction of 'it is' or 'it has'. All these years homeschooling has taught me something at least...
Thanks Ben for your wonderful comment. You get full points from me for spotting my deliberate mistakes. Lol
Seriously, thanks. I do know better, but writing poems on phones and with my failing eyesight is becoming difficult.